Foreclosure starts were down in 2011

BOULDER – Approximately 450 fewer foreclosure proceedings were started in Boulder and Broomfield counties in 2011 compared to 2010, according to year-end records compiled from records submitted to both counties’ public trustees offices.

In Boulder County, 952 notices of election and demand for foreclosures were filed in 2011, according to the trustee’s office. The filing of that form initiates the foreclosure process. The drop is a 28 percent decrease from the 1,314 foreclosures initiated in Boulder County in 2010 and a 33 percent decrease from the 1,414 foreclosures started in 2009, the worst year in the recent past.

In Broomfield, 212 notices of election and demand were filed in 2011, a decrease of 26 percent from the 288 filed in 2010 and a 36 percent decrease from the 329 filed in 2009, which was the height of foreclosures in Broomfield.

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Fewer foreclosures also proceeded to the auction sales, the end of the process. In Boulder, 495 foreclosed properties were sold, a 19 percent drop from the 608 properties sold in 2010.

In Broomfield, 98 properties were sold, down 33 percent from the 147 properties sold in 2010.